After you provide UPC codes and product titles, BoxFox searches through a database of over 75 million products to come up with an estimated value for your inventory. Our system analyzes the current sale price for each item by looking at sales data from sites like eBay, Walmart, Amazon.com and several others.
We then aggregate pricing data from these sites to estimate a fair market value for your inventory. Our system discounts this value appropriately to estimate what another business on BoxFox might be willing to offer for your products. Other factors that affect the appraisal value are online sales velocity for the item and previous sale price on BoxFox (if applicable).
Buyers on BoxFox see this same appraisal value as a reference point to help inform their bidding. They are able to offer above the appraisal value so the final selling price of your inventory primarily depends on the number of buyers that compete in the auction.
Note: If our system returns an appraisal value that appears to be too low, don't worry. For each lot, you have the ability to set your own custom asking price. This is the most important number for buyers when they determine their offer value for your inventory. The lower your asking price, the more that buyers will be willing to compete for your inventory.